accepting credit cards and new laws

The last couple of years I have been using Square and love it. Now I am hearing of new credit cards coming out and different ways of paying, ie; Apple iPay. Square isn’t coming out with a new reader until late this year. Just curious as to my options, what are others using to accept these new payment methods?

I believe the date of conversion of October 1, 2015. Square has a new reader that will scan both the chip and the old magnetic cards. You can preorder the scanner – if you wait it’s somewhere around $50 to buy later.

The big issue is fraud. If you swipe a card that has a chip instead of “dipping the chip” and the card turns out to be a stolen one – you can be on the hook for the money and not the credit card company. That’s a short view of my understanding of the issue.

Long and short – you need to look at the credit card and if it has a chip you need to use it.

As far as paying with their phones – I think most people at a farmer’s market or a street fair would either have cash or will use their card because they know that small vendors can’t have every type of payment option. I use the square and have no issues with it. If someone wants to use their phones I would just say sorry can’t do that.

You shouldn’t have to look at the card to see if it is EMV, the card reader will see that it is an EMV when you swipe it and if the reader is set up to take EMV it will kick out an error. That is if square is like most other readers out there.Mike